A demilitarised zone that invites armoured cars. A referendum that can’t be fairly run. A €210 billion pot that solves today’s bills but complicates tomorrow’s peace.

We start with shuttle diplomacy and the hard edges of a potential DMZ in Donetsk. On paper it pauses the fight; in practice Rosgvardiya blurs policing and militarisation, turning “demilitarised” into a loophole big enough for armour. We then map the constitutional and moral traps around wartime elections or referendums, where occupied voters, blocked monitors and legal grey zones collide with Kyiv’s need to navigate Washington without capitulating.

From there, we track Europe’s move to indefinitely freeze Russian sovereign assets and the push to spend them on Ukraine’s budget. It feels just and efficient, but invites Russian expropriations at home, lawfare against Euroclear, and counter‑seizures abroad. It also spends tomorrow’s reconstruction funds during the war, betting that weary voters will keep paying later. Meanwhile, Moscow counts manpower, energy pressure and US politics more than ledgers, so the deterrent effect may be modest.

The Ben Aris article I mention is at: https://www.intellinews.com/commnet-the-eu-s-reparation-loan-vote-needs-to-fail-416078/?source=russia

Finally, to a Paris restaurant where a row between Garry Kasparov and Vladimir Kara‑Murza exposed a deeper rift inside the exile opposition. PACE’s platform and its Berlin Declaration have elevated some factions while sidelining Navalny’s network, creating gatekeepers and fresh grievances. The result is predictable: public spats, claims of capture by donors, and propaganda gifts to the Kremlin. The uncomfortable truth remains that Russia’s future will be authored inside Russia; exiles matter most when they support rather than splinter the constituencies that still exist at home.

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